Nigeria will formally return to the FTSE Russell Frontier Market classification on September 21, 2026, ending a three-year absence from the equity benchmark. The reclassification from 'Unclassified' to 'Frontier Market' will take effect on that date. Nigeria had exited the FTSE Russell Frontier universe in September 2023 after being downgraded to 'Unclassified' status due to concerns over foreign-exchange liquidity, difficulties in repatriating capital, settlement challenges, and broader market accessibility for international investors. FTSE Russell had observed a significant deterioration in Nigeria's foreign exchange market, with international institutional investors reporting prolonged delays in accessing foreign currency to repatriate proceeds.
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